SAN FRANCISCO: Walt Disney on Thursday reported better-than-expected quarterly results, fueled by the release of blockbuster films “Aladdin” and “The Lion King” as it prepared for its new streaming television service.
Disney profit in the recently ended quarter was $1.05 billion, down from $2.3 billion a year ago, on revenue that grew 34 percent to $19.1 billion.
The slump in profits came as Disney absorbed key film and television operations of 21st Century Fox and geared up for its launch of the streaming service Disney+ that aims to compete globally against Netflix and others.
“We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience,” said Disney chief executive Robert Iger.
“We’re excited for the launch of Disney+ on November 12.”
Iger said the company reached a deal for the service to be on Amazon’s Fire TV platform, the latest distribution agreement for Disney+.
Disney shares were up more than five percent in after-market trading following release of the earnings figures.
Revenues in the past quarter were boosted by a 52 percent rise in Disney’s studio operations with box office hits “The Lion King,” “Toy Story 4” and “Aladdin” fueling gains.
The entertainment giant expects revenue in the current quarter to be boosted by the forthcoming release of a sequel to “Frozen” and the final installment of the “Star Wars” film saga.
It will thereafter take a “hiatus” from “Star Wars” box office films but has an array of spin-off shows planned exclusively for its streaming service.
Disney has become the biggest Hollywood player with the acquisition of studio and TV assets from Rupert Murdoch’s 21st Century Fox.
However, integrating Fox into Disney has cost more than expected and the newly added studios have brought in less money than hoped.
Disney saw smaller revenue gains in its cable and broadcasting operations as well as its theme park division.
Iger would not disclose details of pre-sales of Disney+ subscriptions, but said the price — $6.99 monthly — has met with “great enthusiasm” by consumers.
The Disney+ online streaming service will debut in the United States, Canada and the Netherlands before gradually expanding internationally in Europe then rolling out worldwide.
Its films and TV shows will be available, along with the library it acquired from 21st Century Fox. That includes the “Star Wars” and Marvel superhero franchises and ABC television content.
Disney+ will also combine offerings from powerhouse brands including Pixar, with content from Hulu and sports network ESPN.
Apple last week launched a streaming television service that features a budding library of original shows starring big-name celebrities, aimed at winning over its gadget lovers at home and on the go.
The Apple TV+ on-demand streaming service launched in more than 100 countries at $4.99 per month.
Original Apple TV+ shows have so far been met with lukewarm early reviews, but the low subscription price and an offer of year-long memberships free with purchase of the company’s devices was expected to encourage viewers to tune in.
Netflix, meanwhile, has budgeted $15 billion this year for original shows, on top of the billions it has devoted to exclusive productions in recent years.
Amazon, which has deep pockets thanks to its e-commerce and cloud services, has also poured cash into original shows for its Prime Video service.
This sets up a potential spending war among the major streaming players, according to analysts.
Even more competition looms on the horizon, with AT&T’s Warner Media to launch its “HBO Max” in early 2020 after reclaiming the rights from Netflix to stream its popular television comedy “Friends.”
NBCUniversal’s Peacock service is also launching next year.
Disney tops earnings estimates ahead of streaming launch
Disney tops earnings estimates ahead of streaming launch
- Revenues in the past quarter were boosted by a 52 percent rise in Disney’s studio operation
- Disney has become the biggest Hollywood player with the acquisition of studio and TV assets from Rupert Murdoch’s 21st Century Fox
Rare Vatican artifacts on show at Islamic Arts Biennale in Jeddah
- More than 500 historic items, contemporary artworks on display
- 1685 Nile map’s journey to Jeddah a ‘cultural milestone’
JEDDAH: A six-meter map of the Nile believed to be more than 300 years old has left its home in the Vatican archives for the first time to become the centerpiece of the second Islamic Arts Biennale launched in Jeddah on Saturday.
Visitors to Jeddah’s Western Hajj Terminal, the biennale venue, can see the map along with 10 other artifacts from the Vatican Library.
The historic chart, drawn with watercolor ink on Venetian paper and depicting historic sites along the Nile, has been dated to around 1685.
Its inclusion in the biennale marks a cultural milestone, showcasing the Vatican’s commitment to interreligious and intercultural dialogue, according to Vatican archivist and librarian Angelo Vincenzo Zani.
The map underwent restoration by the Vatican before making the journey to Jeddah. It is displayed alongside a sister map of the Arabian Gulf from the National Library of Qatar.
Both maps are believed to have been acquired in the 1700s in Constantinople by Giuseppe Alemanni, a Lebanese librarian who later became the Vatican Library’s prefect.
HIGHLIGHTS
• Organized by the Diriyah Biennale Foundation, the exhibition in Jeddah explores faith by juxtaposing contemporary and newly commissioned artworks with historical objects from Islamic cultures.
• More than 30 cultural institutions have provided objects from their collections, as well as 29 newly commissioned works of art.
Zani attended the biennale’s opening ceremony and later told Arab News that the artifacts highlight a rich history of cultural exchange and shared knowledge.
“I think this Islamic Arts Biennale is very important. The concept of art is very important — to expand knowledge and creativity. Art is an emotion that we can all understand. It can cross over in a dialogue that is ‘in between’.”
The 2025 biennale’s theme, “And all that is in between,” draws from the Qur’anic verse “And God created the Heavens and the Earth and all that is in between.”
The Vatican Library is also showcasing several works from its collections in “The Art of Numbers” display at Al-Madar section of the biennale.
Al-Madar, or “The Orbit” section, features items from 20 institutions with significant Islamic art collections worldwide.
The section examines the role of numbers in collective history, exploring their origins in natural calculations and applications across Islamic culture, mathematics, architecture, music, design, celestial and terrestrial mapping, ocean navigation, trade and geometric patterns in Qur’anic decoration.
Heather Ecker, Al-Madar’s curator, said the Vatican Library, which was established in the Middle Ages, is the oldest taking part in Al-Madar.
“The Vatican has Arabic manuscripts on virtually any subject, and has a large collection of early Qur’ans. It has early translations of the Qur’an, of which we are exhibiting several,” she said.
Ecker said the Nile map appears to have been linked to a travel log and is a visual record of a journey.
“The maps were created from the written text and from memory, apparently,” she said.
“It’s not a map as we conceive it, because it is image with text, with annotations that correspond to observations made during the voyage and notes taken. It collapses geography in a certain way, so it scrunches up the land between the Nile and the Red Sea, for example, in order to include more sites such as Jeddah.”
The map has been in the Vatican since the late 18th century, but had never been restored and was first shown in 2021, Ecker said. The Diriyah Biennale Foundation helped fund its restoration and conservation.
“It’s much brighter now,” Ecker said. “The paper is much more supple now, so it’s really vastly improved, and it’s much easier to exhibit and for people to appreciate. That was a big undertaking, and important in the field of conservation preservation.”
Organized by the Diriyah Biennale Foundation, the Jeddah exhibition explores faith by juxtaposing contemporary and newly commissioned artworks with historical objects from Islamic cultures.
The event has built on the success of the first biennale, and is bigger in scale and ambition, Aya Al-Bakree, CEO of the foundation, told Arab News.
This year, more than 30 cultural institutions have provided objects from their collections, as well as 29 newly commissioned works of art.
“The biennale is rooted in Saudi Arabia and has become a clear landmark on the international stage as well. We are excited to share this exhibition with audiences from near and far,” Al-Bakree added.
Display space is divided into several sections, each blending Islamic cultural heritage with contemporary interpretations.
The inaugural Islamic Arts Biennale in 2023 attracted more than 600,000 visitors. The 2025 edition will feature more than 500 historical artifacts and contemporary artworks, including treasures from Makkah, Madinah, and around the world.
The 2025 curatorial team is led by Julian Raby, Amin Jaffer, and Abdul Rahman Azzam, with Saudi artist Muhannad Shono as curator of contemporary art.
The Islamic Arts Biennale will run until May 25.
Oscar-winning composer Hans Zimmer wows fans in Riyadh
RIYADH: Renowned composer Hans Zimmer performed on Friday at the Mohammed Abdo Arena in Saudi Arabia as part of the Riyadh Season events.
The Oscar-winning composer performed a selection of compositions from films such as “Dune,” “Wonder Woman,” “Pirates of the Caribbean,” “Interstellar,” “The Lion King” and “No Time to Die.”
The music was accompanied by interactive visual projections and stage effects that complemented the performance and highlighted its theme.
The concert, which sold out immediately on ticket release, concluded with enthusiastic applause, marking a memorable highlight of the Riyadh Season.
Zimmer expressed his gratitude to the Riyadh Season audience in a recorded message at the end of the concert, thanking them for their enthusiasm and energy.
Turki Alalshikh, chairman of the General Entertainment Authority, revealed this week that the composer is working on a new interpretation of Saudi Arabia’s national anthem.
The post continued that the German composer was also offered the chance to create the soundtrack for the upcoming Saudi Arabia film, “The Battle of Yarmouk.”
Zimmer attended the Kingdom’s Joy Awards on Jan. 18, which honors the achievements of artists in the Arab world.
Gwen Stefani to perform in the UAE in February
DUBAI: US pop star Gwen Stefani is set to perform in Abu Dhabi on Feb. 21 as part of the city’s Saadiyat Nights, marking her first-ever performance in the UAE capital.
The triple Grammy Award winner will take the stage just 24 hours before legendary US singer Lionel Richie closes the event on Feb. 22.
The three-month open-air music series will also feature performances by Egyptian composer Omar Khairat on Feb. 1, British musician Sting on Feb. 3, Lebanese music icon Magida El-Roumi on Feb. 10 and US pop star Christina Aguilera on Feb. 15.
Artists who have already performed include Grammy-winning Michael Buble, Russian band Leningrad, US R&B group Boyz II Men, British singer Robbie Williams and Iranian singer Ebi.
Stefani has achieved global recognition as a songwriter, performer, and frontwoman of the US rock band No Doubt, and as a multi-platinum solo artist. Over the course of her career, she has received numerous awards, including four MTV Video Music Awards, two Billboard Awards, an American Music Award and a Brit Award.
Stefani has sold over 60 million records worldwide, combining her success with No Doubt and her solo career. Her 2004 debut solo album, “Love. Angel. Music. Baby.,” achieved multi-platinum status and included chart-topping hits like “Hollaback Girl,” which became the first digital download to sell over 1 million copies in the US.
Stefani is no stranger to Emirati culture. In 2019, she performed in Dubai at the Dubai World Cup. During her visit, the singer immersed herself in Emirati culture, embracing the quintessential tourist experience by taking a desert safari, dining in a desert tent, watching a falcon show, riding a camel, covering her face and hair with a headscarf, shopping at the perfume souk, and visiting the iconic Burj Khalifa, the world’s tallest building.
Saadiyat Nights is part of the Abu Dhabi Calendar’s year-round schedule of events, which includes music, sports, comedy, family-friendly shows, cultural festivals and art exhibitions.
Held on Saadiyat Island, the concert series is set against the backdrop of the Saadiyat Cultural District, pristine beaches, and luxurious resorts.
The inaugural edition of Saadiyat Nights, which ran from January to March 2024, featured a lineup of artists, including American stars Mariah Carey, John Legend, and Alicia Keys, Iranian singer Googoosh, and Italian tenor Andrea Bocelli.
Princess Iman of Jordan is expecting her first child
DUBAI: Jordan’s Princess Iman bint Abdullah II and her husband, Jameel Alexander Thermiotis, are expecting their first child.
Queen Rania, the princess’s mother, shared the news on Instagram with a photo of the couple at sunset by the beach, highlighting the mother-to-be’s baby bump. “Two is a couple, three is a blessing,” the Queen captioned the image.
This will be the second grandchild for Queen Rania and King Abdullah II. Their first grandchild, born in August, is the daughter of Crown Prince Hussein bin Abdullah and Princess Rajwa Al-Hussein. She was named Iman in honor of her aunt.
Oscar nomination for Palestinian documentary ‘No Other Land’
DUBAI: The Palestinian documentary “No Other Land” has been nominated for the Best Documentary at this year’s Oscars.
The film was directed by a collective of four Israeli and Palestinian filmmakers — activists Basel Adra, Hamdan Ballal, Yuval Abraham and Rachel Szor — and marks their directorial debut.
“No Other Land” follows the story of Adra, a young Palestinian activist from Masafer Yatta in the West Bank, as he fights against the mass expulsion of his community by Israeli forces. Since childhood, Adra has documented the demolition of homes and displacement of residents in his region under military occupation.
The film also explores his unlikely partnership with Abraham, an Israeli journalist who supports his efforts. However, their alliance is tested by the stark inequality between them — Adra lives under constant occupation, while Abraham enjoys freedom and security.
The film has dominated the pre-Oscar awards circuit, winning major accolades such as the top honor at the Cinema Eye Honors, Best Documentary and Best Director at the IDA Awards, Best European Documentary at the European Film Awards, and Best Documentary at the Berlin Film Festival, where it premiered last February.
This year’s Academy Awards ceremony will take place on March 3.
